Elsewhere, papers comparing fixed prices with predetermined prices have assumed that the frequency of re-setting price contracts is equal in either case. This note demonstrates that in equilibrium, the frequency of re-setting price contracts is greater with fixed prices than predetermined prices.

Elsewhere, papers comparing fixed prices with predetermined prices have assumed that the frequency of re-setting price contracts is equal in either case. This note demonstrates that in equilibrium, the frequency of re-setting price contracts is greater with fixed prices than predetermined prices.

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Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ecolet